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Buy low and sell high. Many investors have heard of it.
However, what is low and what is high?
One way to tell is to use price resistance and support.
As shown in the following figure, in the upward trend, when the price touches an area, the rise stops and turns to the downward, we call that area the resistance.
Price resistance can also be likened to a "ceiling" that prevents prices from rising further.
 

The resistance is not just a random price reversal position.
Because there were some sellers who had been shorting near that point, they were still waiting for another chance to sell short.
At the same time, there are some traders who are long on the low side, and because the price correction may make them nervous, it is possible to close out the position when the price comes near the resistance level again.
 
In addition, there are some traders who are long at the resistance level.
These traders are praying for an opportunity to avoid a loss, hoping for a rebound in prices.
These three traders constitute a resistance position in price movements, where the supply of money exceeds the demand.
When supply exceeds demand, prices fall.
 
Foreign exchange learning: the support and resistance of British pound/us dollar
 

 
In the figure above, we mark the support areas of the exchange rate in blue, and the resistance areas of the price in red.
In an uptrend, traders can try to buy near the support level and sell near the resistance level.
At the same time, by buying long at the support level, traders reduce their exposure and get a better risk return ratio.
As well as being profitable, resistance levels can be used by traders to make breakout trades.
 
Foreign exchange learning: resistance and support of Australian dollar/new dollar
 

 
On the other hand, the resistance level also provides traders with an excellent short position on the downside.
These points mark the exhaustion of multiple forces and the return of shorts.
As mentioned above, the support level can be used to close the position in the selling air or to make breakthrough transactions.
 
Resistance and support show the strength of both sides in the market change.
Prices can oscillate back and forth between these two positions.
However, the most important thing for traders to do before making a trade is to identify the main trends in the current market.
In addition, traders can also use indicators such as RSI to better identify support and resistance areas.

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